1992-05-20-TPT-min - Laserfiche WebLink

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Town of Lexington Trustees of Public Trusts Minutes of Meeting A meeting of the Trustees was held at 12:00 noon on May '20, 1992 at 265 Franklin Street, Boston, Massachusetts. Present were Trustees Alan S. Fields, Thomas G. Taylor and David G. Williams, and Sheryl Mason. The minutes of the March 4, 1992 meeting were approved with additions, which are attached. The Chairman noted the receipt of a recommendation from the Park and Tree Superintendent, supported by the Director of Pubic Works /Engineering, of the acceptance of a proposal for the treatment of the Minuteman Statue. The cost of the work will be $4,276, and it was voted to fund this proposal by payment from the following funds in the Endowment Fund: Orin W. Fiske Fund Albert Tenney Memorial Fund --- George Gilmore Fund $ 500 $2,500 $1,276 It was noted that the various funds available for maintenance of the Statue and the Battle Green have been depleted, and it was decided that the chairman would write a letter or article for the Minuteman, after the work on the Statue is completed, alerting the public to the depleted state of the funds and suggesting donations to these funds. The following portfolio transactions since the last meeting were approved. Sale in the Endowment Fund of $25,000 U.S. Treasury Notes 8 1/2 due 5/15/95. Sale in the Westview Cemetery Fund of $50,000 Federal Home Loan Bank 10.7 due 1/25/93. It was voted to transfer the remaining balances in the Matthew Allen Memorial Fund (principal ---- $20, income $2.00) to the Harrington Memorial Fund, which has similar purposes as the Allen Fund. Trustee Williams tried to research the history of the Allen Fund but could find nothing, and it is impractical continue to hold separately such a small fund. The Trustees reviewed the third quarter report of the Human Services Fund and it was decided to invite Stephen Baran to the next Trustees meeting. It was decided to suggest to the Human Services